4 Smart Tips for Giving Your Child an Allowance

Earning an allowance can be a big learning experience for kids. Allowances help decision-making skills and teach children how to place value on different things. It’s important to let your children know that help around the house is something they need to take part in, but an allowance is a great incentive to teach kids that work is rewarding.

1. Don’t Over Pay– Help your children begin understanding the value of a dollar.

2. Give Your Kids Some Freedom to Organize Themselves– This is a good tip when you ask for help with bigger projects around the house.

3. Help Children Manage School and Chores– Schoolwork and housework are both important in developing time management skills. Nowadays kids can have many extracurricular activities that need to be balanced.

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4. Don’t make Allowances as a Means of Discipline– As your children get older their allowance should become less about their misbehavior.

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